$JSEJBL - Jubilee Metals: Impulse Move Invalidated, What Now?
See link below for previous analysis.
It been 9 months since I last covered Jubilee and the stock has invalidated the five wave impulse outlook by breaking below 128.
For an impulse, wave (4) cannot terminate within the price territory of wave (1) and ideally should not even retrace back into it.
This leaves me with an alternative view that the bigger pattern could be a leading diagonal though it is not the right look as the move from 37cps to 426cps is very large.
With all the uncertainty and the trend still very much to the downside I am now bearish.
It been 9 months since I last covered Jubilee and the stock has invalidated the five wave impulse outlook by breaking below 128.
For an impulse, wave (4) cannot terminate within the price territory of wave (1) and ideally should not even retrace back into it.
This leaves me with an alternative view that the bigger pattern could be a leading diagonal though it is not the right look as the move from 37cps to 426cps is very large.
With all the uncertainty and the trend still very much to the downside I am now bearish.
